Investor Presentaiton

Exxon Chevron $147 Exposed to Diverse Client Base Required to Utilize TPL Surface / Water E&P Companies on TPL Market Cap (in $ billions) $454 $347 High Margin, Fixed-fee Revenue Streams Strong Performance Through Commodity Price Fluctuations Existing Relationship with TPL (1) Other Permian Operators Drill on TPL NRA TEXAS EST 1888 PACIFIC LAND CORP Midstream Companies on TPL ENERGY TRANSFER EPIC Enterprise Products Partners L.P. RYX MIDSTREAM SERVICES $106 $76 $57 $54 $40 $25 $19 $17 $15 $13 $7 $6 $5 $4 $2 Conoco BP EOG Occidental Pioneer Devon Diamondback Coterra Marathon APA PDC Ovintiv Matador ♦ Fasken Four Corners PHILLIPS Permian Private Operators Western Midstream 66 Partners, LP Hunt ♦ Legacy ONEOK dep Midstream TPL has Existing Relationships with Over 90% of the Top E&P and also Blue-Chip Midstream Companies Source: Company data and Bloomberg as of 12/31/22. Relationships established through surface operations and/or water sourcing/produced water. Mewbourne Sabinal Sable ♦ Sequitur Sheridan K Surge ♦ TR. MPLX TARGA PLAINS ALL AMERICAN KINDER MORGAN INC. NYSE: TPL 6

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